US: Genesis Electric Car Sales Hit New Record In September And Q3 2023

The brand's electrification heads toward a 10 percent share.

Genesis GV60

Mark Kane

By: Mark Kane

Oct 27, 2023 at 8:39am ET

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Genesis (Hyundai Motor Company's premium/luxury arm) continues to sell more and more all-electric cars in the United States, achieving new record levels.

According to the data, released by the broader Hyundai Motor Company, the brand's BEV retail sales in the US amounted to 682 units in September, which is a new monthly record and a 243 percent increase year-over-year. The share of all-electric cars in the total volume exceeded 10 percent.

During the third quarter of this year, the brand sold in the US 1,802 electric cars - 123 percent more than a year ago, which is a new quarterly record.

The overall Genesis sales are also increasing, reaching 19,427 in Q3 (up almost 28 percent year-over-year).

In terms of models, the most popular EV is the E-GMP-based Genesis GV60, which in Q3 noted almost 900 sales (up 11 percent year-over-year). The Genesis Electrified G80 and Genesis Electrified GV70 noted 471 and 433 units, respectively

Genesis BEV sales in Q3 2023:

Genesis Electrified G80: 471 (new)
Genesis Electrified GV70: 433 (new)
Genesis GV60: 898 (up 11%)
Total: 1,802 (up 123% year-over-year) and 9.3% share

Genesis BEV sales in the US - September 2023

So far this year, Genesis BEV sales amounted to 4,361, which is 8.6 percent of the total volume.

Genesis BEV sales year-to-date (YOY change):

Genesis Electrified G80: 1,184 (new)
Genesis Electrified GV70: 959 (new)
Genesis GV60: 2,218 (up 113%)
Total: 4,361 (up 319%) and 8.6% share

For reference, in 2022, Genesis sold 1,590 Genesis GV60 (the other two models emerged in the stats this year).

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Genesis probably will be able to sell more than 6,000 all-electric cars this year, and continue electrification in 2024. By 2030, the brand intends to have a 100% all-electric lineup.

Having the sales numbers for Genesis, enables us to calculate the total E-GMP EV sales by the wider Hyundai Motor Group, which so far this year includes 33,624 Ioniq 5 and Ioniq 6, 14,798 Kia EV6 and 2,218 Genesis GV60. The total is 50,640 during the first nine months of the year.